The half year figures for private equity deals in Africa are stronger than 2018, pointing to growth in the continent’s finance market. Private equity activity in Africa totalled USD 1.7 billion in final closes and USD 0.9 billion in interim closes during the first half of 2019, according to data released by the African Private Equity and Venture Capital Association (AVCA). The African Private Equity Data Tracker revealed that there has been a move towards specialisation among private equity fund managers and investors, with 70% of the funding coming from sector-specific funds. South Africa was the source of 28% of the deals, making it the most successful region, with North Africa next with 19%. In particular, Africa’s rising middle-class continues to be a key driver of growth for African PE.”AVCA chief executive Michelle Kathryn Essomé added: “As shown by the 2019 H1 African Private Equity Data Tracker, the African PE ecosystem continues to grow at an exciting pace.

Source: The North Africa Journal October 17, 2019 17:26 UTC